December 5th 2022
- Dec 5, 2022
- 3 min read
Here’s what you need to know:
China has had enough indoors time as shown by last weeks mass protests that struck out all around major cities in China protesting against COVID restrictions
Here’s what we know:
A fire in an apartment building killed 10 people due to lockdown measures disrupting rescue efforts
Televised World Cup fans without mask blurred on Chinese outlet
Interpreted as the largest threat to Chinese power since 1989 (Tianamen Square)
No one seems to talk about it anymore…
Here’s what we don’t know:
Is it still going on?
The Royal Bank of Canada (RBC) has recently acquired HSBC's Canadian unit for $10 billion
Canada's largest banking deal on record!
2023 Black Friday and Cyber Monday rang in record sales
Americans spent $9.12 billion on Black Friday (up 2.3% from last year)
Phones accounted for 48% of all online purchases
Capital Markets: Apple, the talk of the town
Markets finish strong ending the month of November, marking 2 months straight of gains.
Disney reappoints their previous CEO, Bob Iger for the next 2 years. Although he was just recently reinstated, Disney was paying him $2 million a year as a "consultant" for the two years he was gone.
Elon Musk plans to start human trial at Neuralink with his brain implant technology in 6 months. Any takers?
Saudi Arabia and Dubai's economy appears to remain strong as total IPO proceeds reach $16 billion in the last 12 months.
Would dismantling the Bretton Woods agreement pay the climate bill? The Barbados PM Mia Mottley thinks so.
The COP27, the largest climate change conference, brought up Mottley’s plan to ensures social, economic, and environmental justice. This plan, also known as the Bridgetown Agenda, is designed to mitigate the debt crisis that many developing nations are facing due to increasing climate change.
The plan calls for $650 billion in emergency liquidity and for development banks to issue $1 trillion in low interest loans. Find out more here.
Apple has been the talk of the town these past couple of weeks as questions were raised about their appstore fee's, along with factory protest in China which contributed to the nation-wide protests.
Apple is set to lose billions of dollars because of riots at the Foxconn factory in Zhengzhou at one of the world's largest phone factories in the world, resulting in Apple’s stock price falling and some black Friday shoppers empty-handed. According to analysts, more than 10% of global iPhone production capacity was affected by the situation.
Along with factory issues, Apple's App store has been put on the stand due to their high fee's. More specifically, it has come to light that the company takes a 30% commission from apps that make more than $1M, and 15% for anything under.
The App store brought in over $72 billion in revenue this past year. For reference, Netflix brought in $31 billion in revenue (that's less than half of the App store!).
The large dispute of the situation is their 30% cut of in-app purchases and subscriptions. These massive fee's have led to many business's trying to avoid the in-app purchase model.
With the holidayscoming up, Apple mightbedisappointedwiththeir 4th quarter results.
Fixed income: Experts are certain things are uncertain
As rate-hikes continue, economic uncertainty remains stagnant, and consumer spending slows, recession probably has risen substantially.
World Markets and Commodities:
Copper saw its largest monthly gain since April 2021 as it rose 11% in November. With China being the main exporter of copper, perhaps investors are feeling optimistic China will soon ease up on restrictions.
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